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(plastemart) -- Taiwan’s Minister of
Economic Affairs has stated that though the planned Kuokuang petrochemical plant
has met with opposition on environmental concerns, its construction seems
imperative to ensure the competitiveness of Taiwan's petrochemical sector. The
Minister, however, acknowledged that safety and environmental concerns had to be
addressed, and accepted that the environmental concerns are legitimate. Hence
the government will need to strengthen its role in strictly monitoring the
sector to put the minds of residents living near the complexes at ease while at
the same time maintaining an appropriate scale of production.
The planned Kuokuang complex, which has faced strong resistance, is to
replace the fifth naphtha complex operated by state-run CPC Corp. that was
committed to relocation by the government 20 years ago. The minister contended
that the Kuokuang project is a vital investment for Taiwan's economy because it
cannot enjoy persistent growth without a sound petrochemical industry. Without
the complex, midstream and downstream producers would be likely to leave Taiwan,
leaving the local industry out of balance. At the same time, the CPC Corp. chain
would be weakened, reducing the competition faced by the Formosa Plastics Group.
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